Are you a first time homebuyer and have little down payment? Need FHA financing but 3.5% is cutting it a bit close? Fannie Mae is now offering FHA loans for just 3% down! That's not a big difference you say?? If you want to buy a $300,000 home, this means instead of needing a down payment of $10,500 you would only need a down payment of $9,000. That's an immediate savings of $1,500!
Forbes.com published an article about this a few days ago. To read the full article and learn more about this programs, click here. If you are a first time homebuyer and are thinking of getting an FHA loan for your new home purchase, this is potentially great news for you!
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